DA Davidson analyst Linda Bolton Weiser raised the price target on WD-40 (NASDAQ: WDFC) to $233.00 (from $210.00) while maintaining a Buy rating citing upside surprise of $0.11 vs. consensus, EMEA hard-hit by COVID-19, Petroleum-based input cost tailwind for the third consecutive quarter, and provided FY20 sales guidance.

The analyst stated "Adjusted EPS of $1.05 was significantly above our and consensus estimates of $0.23 and $0.14, respectively. This is as production, both to third parties and for syndication, exceeded our forecast, and due to aggressive cost cuts and capacity rationalization. Orders fell short of our low projection but investors will likely look beyond that given the solid backlog and impressive execution."